Cloud VPN Market Highlights:
Market Research Future (MRFR) in its latest report reveals that the global cloud VPN market is set to grow at a compound annual growth rate (CAGR) of 22% during the forecast period (2017-2023).
Shit towards virtualization and rising popularity of web-based solutions and services among enterprises can be linked the growth of the Cloud VPN Market. Moreover, cloud VPN is increasingly being deployed to overcome issues of intellectual property theft and data loss.
The IT and telecommunication sector is one of the largest Cloud VPN solution users and makes a noteworthy contribution to the market growth. At the same time, growing trend of bring-your-own-device and expanding user base of mobile devices is also reflecting favourably on the market. Cloud VPN market is also gaining traction owing to the growing need for secure remote access.
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Cloud VPN Market Competitive Landscape:
Microsoft Corporation (U.S.), NCP Engineering (Germany), Robustel (China), Contemporary Controls Systems, Inc. (U.S.), Singapore Telecommunications Limited (Singapore), Cisco Systems, Inc. (U.S.), Oracle Corporation (U.S.), Cohesive Networks (U.S.), Huawei Technologies Co., Ltd. (China), Google, Inc. (U.S.) and Virtela (U.S.) are some of the top-notch market participants covered in MRFR’s analysis.
Cloud VPN Market Segmental Analysis:
A detailed segmental analysis has been offered in MRFR report, which is based on component, connectivity, vertical and organization size. By component, the market has been segmented into service and software. The service segment is further sub-segmented into training and consulting, support & maintenance and integration. On the basis of connectivity, the market has been segmented into site-to-site and remote access. Of these, the remote access segment is expected to retain it top position over 2023. On the basis of vertical, the market has been segmented into government, IT & telecommunication, healthcare, retail, manufacturing, BFSI and others. On the basis of organization size, the market has been segmented into large enterprises and SMEs.
The SMEs segment is expected to witness a strong growth during the forecast period. Small and medium sized enterprises are moving towards centralized management capabilities and cloud VPN solutions owing to cost benefits and higher efficiency of such solutions. The SMEs segment is expected to out perform the large enterprises segment during the projection period.
Cloud VPN Market Regional Analysis:
MRFR’s report includes a comprehensive regional analysis, which covers Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East & Africa (MEA). North America accounts for significant share of the market in terms of revenue. In North America, the U.S. and Canada present attractive opportunities to market players.
These countries are witnessing rapid adoption of cloud VPN solutions. Moreover, presence of advanced infrastructure is allowing a faster implementation of such technologies. Cloud VPN solutions are witnessing widespread popularity in industry verticals such as IT and telecommunication, healthcare, BFSI, manufacturing among others. Such factors are expected to support the market growth in North America throughout the assessment period. Apart from North America, Europe and Asia Pacific is also expected to remain important investment destinations over 2023.
- Tech giant Google has reportedly introduced a cloud health API, which the company believes will help the healthcare sector leverage machine learning on healthcare data sets. Google has recently released a beta version of the API integrated with various google cloud platforms.
- ADAR, Inc., a specialist in SDN and Cloud Networking has recently unveiled a unique Cloud Version of its Direct Connection(s) Multi Cloud Management Platform. This unique cloud-ready platform comprises ADARA’s SD WAN Proxies, ADARA’s Intent Based SD WAN Routers and ADARA’s Direct Connection(s) Multi Cloud Management Platform.
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- Technology Investors
- Research/Consultancy Firms
- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Software Vendors
- Service Providers
- Cloud Platform Providers
- Mobile Application Developers
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